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  • #1,121
  • Sep 16, 2016 12:15pm Sep 16, 2016 12:15pm
Quoting benaiah
{quote} Your logic is flawed though. Looking at my draw-down and assuming it is because what I have learned from professionals is not working? The primary component to successful trading is not strategy. It's patience and discipline. Until this is mastered, one can jump around to as many strategies as they want, and nothing will work...
Yes, patience and discipline. Very important part indeed. So let's get some more of it together. I could sure use that pill sometimes.
PVSRA
  • #1,122
  • Sep 16, 2016 12:19pm Sep 16, 2016 12:19pm
Quoting benaiah
{quote} Your logic is flawed though. Looking at my draw-down and assuming it is because what I have learned from professionals is not working? The primary component to successful trading is not strategy. It's patience and discipline. Until this is mastered, one can jump around to as many strategies as they want, and nothing will work...
I think all important. The Good Strategy. The Discipline. The Patience.

All important.
fooled by randomness in art
Meditation All Time Return: 8.9%
  • #1,123
  • Sep 16, 2016 12:22pm Sep 16, 2016 12:22pm
Quoting benaiah
{quote} LOL That was a low blow. This is not about my trading. No one here has 1 year profitable, including yourself. Let's see how it plays out. I'm not here to learn a strategy from anyone. This is an interactive trading thread. It's not for promoting a strategy.

Hahaha, very Low blow ..
Wicked Fisher, Very Wicked...

Btw, I'm back in Green from -40% boys and girls...
Time to work my way back up the Ladder...

Ben, you know you could have exited those Audnzd long ago and probably waited for better entry prices.. in my short experience, its never too good to be strongly biased to one side in this market... Instead of adding to positions, wouldn't it have been better to exit with a little loss and watch the market for a better signal to indicate or confirm your bias?
  • #1,124
  • Sep 16, 2016 12:23pm Sep 16, 2016 12:23pm
Quoting RoelsMajor
{quote} I think all important. The Good Strategy. The Discipline. The Patience. All important.
Yes, absolutly. ALL IMPORTANT.

Quoting Koop
{quote} Hahaha, very Low blow .. Wicked Fisher, Very Wicked... Btw, I'm back in Green from -40% boys and girls... Time to work my way back up the Ladder... Ben, you know you could have exited those Audnzd long ago and probably waited for better entry prices.. in my short experience, its never too good to be strongly biased to one side in this market... Instead of adding to positions, wouldn't it have been better to exit with a little loss and watch the market for a better signal to indicate or confirm your bias?
Yeah, I talk too much. And intervene too much. I should leave now .
Wish you all nice weekend and many green pips in the future.
PVSRA
  • #1,125
  • Sep 16, 2016 12:28pm Sep 16, 2016 12:28pm
Quoting Koop
{quote} Hahaha, very Low blow .. Wicked Fisher, Very Wicked... Btw, I'm back in Green from -40% boys and girls... Time to work my way back up the Ladder... Ben, you know you could have exited those Audnzd long ago and probably waited for better entry prices.. in my short experience, its never too good to be strongly biased to one side in this market... Instead of adding to positions, wouldn't it have been better to exit with a little loss and watch the market for a better signal to indicate or confirm your bias?
You are absolutely correct. However, it would not be such a bad thing, if I would not have done the same thing with a bunch of other trades, lol.

Over-leveraging by opening too many trades, again got me. Still, I think the main thing is that the over-leveraging per trade, that I started off with a month ago was more devastating. I'm up almost 2000 pips, so if I had not started off over-leveraging each position I opened, I would be okay.
  • #1,126
  • Sep 16, 2016 12:39pm Sep 16, 2016 12:39pm
Quoting RoelsMajor
{quote} I think all important. The Good Strategy. The Discipline. The Patience. All important.
Yes, many components make up a successful trader.

However, there is much more common problem with traders jumping around to different strategies because they do not have patience and discipline.

There are many strategies that can work with proper patience and discipline. But no strategy will work without proper patience and discipline...
  • #1,127
  • Sep 16, 2016 12:41pm Sep 16, 2016 12:41pm
Quoting benaiah
{quote} You are absolutely correct. However, it would not be such a bad thing, if I would not have done the same thing with a bunch of other trades, lol. Over-leveraging by opening too many trades, again got me. Still, I think the main thing is that the over-leveraging per trade, that I started off with a month ago was more devastating. I'm up almost 2000 pips, so if I had not started off over-leveraging each position I opened, I would be okay.

Over-leveraging is like a flesh eating cancer....
Sheesh...
If it works in your favour once, your try again and again even when it starts biting you in the A**....
I hope I have learned my Lessonsssssss ....

The initial reason I joined this thread was to compare my Analysis with yours which seemed to be quite decent and informed... So I don't think that is the problem...

Its definitely the same risk management/Indiscipline beast that wiped away all my August profits ....

With Discipline in check..... Almost every strategy should work
  • #1,128
  • Sep 16, 2016 12:45pm Sep 16, 2016 12:45pm
i'm flat for the first time in 12 days -- feels good to close out positions and take a breather this weekend.

come monday and the hunt for better positioning continues ...have a great weekend all
  • #1,129
  • Sep 16, 2016 12:56pm Sep 16, 2016 12:56pm
Quoting Koop
{quote} Over-leveraging is like a flesh eating cancer.... Sheesh... If it works in your favour once, your try again and again even when it starts biting you in the A**.... I hope I have learned my Lessonsssssss .... The initial reason I joined this thread was to compare my Analysis with yours which seemed to be quite decent and informed... So I don't think that is the problem... Its definitely the same risk management/Indiscipline beast that wiped away all my August profits .... With Discipline in check..... Almost every strategy should work
Yes, indeed. I also appreciate the heads-up on this thread on some of the mistakes I've made, including with audnzd, although I don't always listen

I've cut losses with most of my "don't want to be wrong" trades, lol

I'm currently long UJ, AUDNZD, and gold. Gold is the only "i don't want to be wrong" trade I have open at this point, lol. It's more of an investment/weekly/monthly time frame trade. If we can get a clear bottom, and stronger bull presence I might add a position, but I will be more careful. I'd rather just hold one position long-term, than end up over-leveraged again... Edit: If I add a position in gold, it'll probably be with a tight SL....
  • #1,130
  • Sep 16, 2016 1:06pm Sep 16, 2016 1:06pm
Quoting pursuit_21
i'm flat for the first time in 12 days -- feels good to close out positions and take a breather this weekend. come monday and the hunt for better positioning continues ...have a great weekend all
Nice win streak, looks like your GU experiment has got off to a good start...
  • #1,131
  • Sep 16, 2016 1:17pm Sep 16, 2016 1:17pm
Quoting benaiah
{quote} Yes, indeed. I also appreciate the heads-up on this thread on some of the mistakes I've made, including with audnzd, although I don't always listen I've cut losses with most of my "don't want to be wrong" trades, lol I'm currently long UJ, AUDNZD, and gold. Gold is the only "i don't want to be wrong" trade I have open at this point, lol. It's more of an investment/weekly/monthly time frame trade. If we can get a clear bottom, and stronger bull presence I might add a position, but I will be more careful. I'd rather just hold one position...
Okay, I could not resist. Added a gold position. I think, at least should be a good bounce here, possibly gap up over the weekend. We'll see...
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  • #1,132
  • Sep 16, 2016 1:31pm Sep 16, 2016 1:31pm
Im just out of luck, i opened a trade and it goes in my favour and i didnt set my tp, so i thought i will close it from my phone, and bang, i download the new ios 10 on my iphone 5 and my iphone crushed, i couldnt use it all morning, when i figure it out how to close the trade from my job without metatrader the price went down and it was like 8% on my favor, i only con rescue 0.5%.

i still have to work work work on my trades, i like the way fisher is profiting, you are a great sclaper fisher, i woul like to learn from you.
Im a Crocodile, Im a Sniper. Patience is everything.
  • #1,133
  • Sep 16, 2016 1:45pm Sep 16, 2016 1:45pm
Quoting benaiah
{quote} Yes, indeed. I also appreciate the heads-up on this thread on some of the mistakes I've made, including with audnzd, although I don't always listen I've cut losses with most of my "don't want to be wrong" trades, lol I'm currently long UJ, AUDNZD, and gold. Gold is the only "i don't want to be wrong" trade I have open at this point, lol. It's more of an investment/weekly/monthly time frame trade. If we can get a clear bottom, and stronger bull presence I might add a position, but I will be more careful. I'd rather just hold...
The words i bold there is the first step for me to stay in the green in the long term back then. Easy to say, hard to do even now. Anyway, on your audnzd trade, you should pay more attention when it reach 1.035-ish. For shorter term, that level kinda important. While price tend to reach that level, short term correction could start from that level.

You might find it strange to hear this from me, a quant trader, but i should say that price need catalyst(fundamental side) to move past significant level. If fundamentals agains you, you mmight consider to reduce your position(the one in profit) and enter a bit lower. I even spend 2-3hours everyday to read news, i dont even do manual trade for more than 2 years. Volatility tends to increase till end of year before christmast(esp. near fimc before us raise its benchmark rate) and after till may. While this period is golden opportunity, drawdown will be higher. Since jan 2014 my max drawdown were slightly above 50% from aug to dec , but its worth it(till now at least). Been trying to keep it below 50%, i hope this time i could(45% is my target with what i have now).

I could not be around much, but i hope you all could reach what we all wanted here. Good luck.
  • #1,134
  • Sep 16, 2016 2:29pm Sep 16, 2016 2:29pm
Quoting Peruvian80
Im just out of luck, i opened a trade and it goes in my favour and i didnt set my tp, so i thought i will close it from my phone, and bang, i download the new ios 10 on my iphone 5 and my iphone crushed, i couldnt use it all morning, when i figure it out how to close the trade from my job without metatrader the price went down and it was like 8% on my favor, i only con rescue 0.5%. i still have to work work work on my trades, i like the way fisher is profiting, you are a great sclaper fisher, i woul like to learn from you.
You see how many trades I am taking. I complicate and I trade HTFs, m15, h1, daily, H4, M1. I mix all methods. It is hard to learn from me. There are better traders that don't complicate so much, like Roels and others. you should learn PVSRA to learn to read the market ( TA) and then decide for simple method. TVT20 is Ideal for a start, but needs a lot of patience and imo DEMO trading for a while. I am trading full time for exactly a year now and most of the time (summer is exception because I go boating many times) I can monitor my LS trades.
That not being a case you need to be extremly picky, as you could see from my trades today. I was out important few hours including first 2 hours NYS and this caused big DD on my account.
So- if you cannot monitor at PC, then you should trade extremly small relative to account size and be extremly picky.
PVSRA
  • #1,135
  • Sep 16, 2016 2:51pm Sep 16, 2016 2:51pm
Quoting benaiah
{quote} Yes, indeed. I also appreciate the heads-up on this thread on some of the mistakes I've made, including with audnzd, although I don't always listen I've cut losses with most of my "don't want to be wrong" trades, lol I'm currently long UJ, AUDNZD, and gold. Gold is the only "i don't want to be wrong" trade I have open at this point, lol. It's more of an investment/weekly/monthly time frame trade. If we can get a clear bottom, and stronger bull presence I might add a position, but I will be more careful. I'd rather just hold one position...
IMHO for the best safety of HTF trades SL should never be more than 100 pips cca. Even if weekly. Because if trade is red more than 100 pips, the trade should be closed and trade direction reconsidered. There is always re-enter. I was experimenting the whole year on demo without setting SL and adding to red without restriction. I am up only 16% for the whole year, not to mention the nerves if such trading would be live. It is bad bad thing for emotions.
It is just not good way to trade, no matter what compunders say. Waiting can take months.
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PVSRA
  • #1,136
  • Sep 16, 2016 3:36pm Sep 16, 2016 3:36pm
Quoting Fisher755
{quote} IMHO for the best safety of HTF trades SL should never be more than 100 pips cca. Even if weekly. Because if trade is red more than 100 pips, the trade should be closed and trade direction reconsidered. There is always re-enter. I was experimenting the whole year on demo without setting SL and adding to red without restriction. I am up only 16% for the whole year, not to mention the nerves if such trading would be live. It is bad bad thing for emotions. It is just not good way to trade, no matter what compunders say. Waiting can take months....
hmm...

100 pip sl limit? this is relative, and depends on the position size. Pip size only means something if 1 pip is always the same value.

changing direction just because price moves 100 pips against you? This also depends on PA context. If price is in a range, you just get whipsawed back in the other direction.

We'll have to agree to agree on some things and disagree on others.
  • #1,137
  • Sep 16, 2016 3:36pm Sep 16, 2016 3:36pm
Quoting Fisher755
{quote} You see how many trades I am taking. I complicate and I trade HTFs, m15, h1, daily, H4, M1. I mix all methods. It is hard to learn from me. There are better traders that don't complicate so much, like Roels and others. you should learn PVSRA to learn to read the market ( TA) and then decide for simple method. TVT20 is Ideal for a start, but needs a lot of patience and imo DEMO trading for a while. I am trading full time for exactly a year now and most of the time (summer is exception because I go boating many times) I can monitor my LS trades....
Hey Fisher, what do you mean by "trading full time"?
Is trading your only source of income?
  • #1,138
  • Sep 17, 2016 12:55am Sep 17, 2016 12:55am
Quoting benaiah
{quote} hmm... 100 pip sl limit? this is relative, and depends on the position size. Pip size only means something if 1 pip is always the same value. changing direction just because price moves 100 pips against you? This also depends on PA context. If price is in a range, you just get whipsawed back in the other direction. We'll have to agree to agree on some things and disagree on others.
I didn't say "change direction", I said reconsider the direction ( re-enter if so, sit on the hands if so or reverse if so).

Quoting Koop
{quote} Hey Fisher, what do you mean by "trading full time"? Is trading your only source of income?
Yes. I quitted my job a year ago ( a very good one).
This is the reason why I use more than one method and smaller TFs , because HTF can bring a lot, but it can take a long time, so not prepared to wait for months for now.
PVSRA
  • #1,139
  • Sep 17, 2016 1:17am Sep 17, 2016 1:17am
Quoting Fisher755
Yes. I quitted my job a year ago ( a very good one). This is the reason why I use more than one method and smaller TFs , because HTF can bring a lot, but it can take a long time, so not prepared to wait for months for now.
That's really cool, you're living the dream of most traders. I've traded for so many years but never seems to be able to make it full time Hopefully will be able to switch to full time in 2-3 years time
  • #1,140
  • Sep 17, 2016 1:20am Sep 17, 2016 1:20am
Quoting Alpha8
{quote} That's really cool, you're living the dream of most traders. I've traded for so many years but never seems to be able to make it full time Hopefully will be able to switch to full time in 2-3 years time
Nobody should rush with it. From the emotions part it is easier too trade part time . The more time passes by, the more expirience trader gets, which is also very important part of trading. So the later, the better.
PVSRA
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